Steven Mnuchin Announces Expected Growth in the 3rd Quarter

Steven Mnuchin Announces Expected Growth in the 3rd Quarter Steven Mnuchin announces expected growth in the 3rd quarter. US Federal Reserve (FED) President Jerome Powell and US Treasury Secretary Steven Mnuchin announced their efforts to resolve the economic recession caused by the Coronavirus (Covid-19) outbreak. The statements of the duo, who made a presentation at the Financial Services Committee of the House of Representatives, were very important in terms of market predictions. The fact that Powell's strategy was open almost from the beginning of the epidemic caused the eyes to turn to Steven Mnuchin. The highlights of Mnuchin's speech, who made a presentation parallel to Jerome Powell's statements, are as follows ...   "We are determined to get every American back to work as soon as possible." Mnuchin stated that a significant recovery has been achieved with support packages and normalization efforts, and that additional packages are still needed for the sectors that are more severely damaged by the epidemic. Pointing out that the country's economy has achieved the fastest recovery in history, the Minister said, "We are determined to return every American to work as soon as possible." Stating that Trump is determined to support employment, Steven Mnuchin also underlined that they are in cooperation with the Congress.   'Tremendous' growth claim in the third quarter Stating that 24 percent growth is expected in the third quarter thanks to the support packages, Steven Mnuchin said; “I believe we will see tremendous growth driven by strong retail sales, residential sales, manufacturing growth and increased business activity.”